Shanghai LCC Spring reports surging earnings

Spring Airlines reported net income of CNY140 million ($20.5 million) for the first nine months of 2009, a better than fourfold increase over the CNY30 million earned in the same period last year, according to a company spokesperson.
The result implies a bumper third quarter, as Shanghai-based Spring was CNY41.2 million in the black through the first half. Chairman Wang Zhenghua had said he expected a CNY100 million profit for the full year.
"Our financial performance has started to improve ...